7:01 PM, March 19, 2013

Detroit Free Press Business Writer

Ford estimates the cost of closing its Genk, Belgium plant, at the end of 2014 will be about $750 million, the automaker disclosed today in a filing with the Securities and Exchange Commision.

The cash expenditure is for separation benefits for about 4,000 hourly and 300 salaried workers.

Plans to close the plant were announced last October as part of restructuring efforts to stem losses in Europe where Ford expects to lose another $2 billion this year. The restructuring involves closing three plants  the other two are in the U.K.  and cutting capacity by 18%.

The news led to a worker revolt. Production of the Ford Mondeo, Galaxy and S-Max was halted during a lengthy period of protest.

Ford negotiated settlement agreements with hourly worker representatives which led to the resumption of production on Monday.

Ford called it an important step to rebuilding dealer stocks of the vehicles to meet consumer demand.

Talks continue with Ford Genk salaried trade unions on a plan for their severance.